At an AEI conference last June, Professor Kenneth M. Lehn and his colleagues presented a ground-breaking paper that compared the effect of market stress—when the markets receive new positive or negative information—on the bid-ask spreads in the NYSE, NASDAQ, and the electronic communications networks (ECNs). The June paper indicated that...

Trying to rescue the European Union's failed political objectives should be off the table in Washington.

The auto industry's failure to keep up with competition and adjust to new market demands is worsened by a tax structure that discourages production.

The auto industry's failure to keep up with competition and adjust to new market demands is worsened by a tax structure that discourages production.

While everyone says they want more innovation, words are easy. The tough, practical questions remain: How do we get more innovation and how do we harness it?

Is it wise for portfolio managers and individual investors to choose socially responsible investing?

It’s time for the Pentagon and the American defense industry to develop a new way of doing business. They must look to Israel.

Highprice-to-earnings ratios are a reflection of the failure of Generally Accepted Accounting Principlesas a system of financial reporting in the knowledge economy.